In response to the Justice Department’s application for a stay of a district court injunction related to beneficial ownership information reporting, the plaintiffs claim that staying the injunction would harm reporting companies more than it would help the government.
Day: January 10, 2025
New regs put some partnership transactions under spotlight
Some related-party ‘basis shifting’ arrangements are now considered ‘transactions of interest’ per the IRS’s final regulations.
Rules and guidance proposed on commercial clean vehicles, clean fuels
Proposed new rules were issued for the tax credit for qualified commercial clean vehicles, along with guidance on claiming tax credits for clean fuel.
IRS announces start date for tax filing season
IRS Commissioner Danny Werfel said he expects the 2025 filing season to build on the success of the two previous seasons if Congress maintains funding.
Regs proposed on 401(k) enrollment, Roth IRA catchup
The proposed regulations involve provisions of the SECURE 2.0 Act, including auto enrollment in 401(k) and 403(b) plans, and the Roth IRA catchup rule.
IRS issues proposed regs. on catch-up contributions
The proposed regulations apply to catch-up contributions under a 401(k) or similar workplace retirement plan that generally are allowed for workers who have attained age 50.
IRS to start tax season on Jan. 27
Newly expanded and improved tools will be available when tax season kicks off this month.
Basis-shifting transaction reporting addressed in final regs.
The final regulations, which the IRS issued Friday, make several changes to the proposed regulations, including a higher dollar threshold for a basis increase in transactions of interest.
On the move: HCVT adds to partnership
Ericksen Krentel elects sixth MP; Yeo & Yeo, Grassi and BMSS move offices; IFRS Foundation appoints three new trustees; and more news from across the profession.